FX market round up: Volume turned down
Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Foreign Exchange

FX market round up: Volume turned down

Data released by Icap, CME and CLS all provide support for what market participants have been saying for the past few weeks – liquidity is drying up. Daily turnover on Icap’s EBS platform averaged $167 billion, a fall of around 32% from November 2007 and from October 2008. Similarly, the CME saw turnover in its futures and options average 471,000 contracts a day, down 26% on November 2007. Elsewhere, CLS says it settled a daily average of 588,416 instructions with a value of $3.25 trillion. In comparison, it settled 727,934 instructions in October and 488,000 deals in November 2007. Of course, November 2007 was an exceptionally busy month, which has probably exaggerated the severity of the annualized decline.

Gift this article